© Dukascopy
"We could get a really good fourth-quarter growth rate but much more modest gains in 2012, and that will keep the Fed pushing as hard as it can"
- Naroff Economic Advisors (based on Reuters)
Industry outlook
USD/CHF is anticipated to rise, as currently it is being underpinned by a rather tough support located at 0.9068. The primary target for the pair lies at 0.9317, followed by 0.9341/99, which is likely to hold the initial test.
Traders' sentiment
The number of those traders who anticipate the Greenback to appreciate comparative to the Swissie decreases (66.42%), even though it still significantly outweighs the amount of bearish market participants (33.58%).
Long position opened
Leading market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 0.9177. The breakout of this level will pave a way for a bullish run up to 0.9220 and then to 0.9299.
Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 0.9110. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 0.9063 and at S3 of 0.8984.
© Dukascopy